Welcome to The Road to Six Figures Challenge Week 14!
The Six Figures Challenge is a challenge created by entrepreneur, TraVal Shanklin, to document his journey of earning six figures from scratch through business ownership.
One Source
Imagine depending on one person for everything. Food, shelter, clothing, happiness. When you are only relying on one source of income, it’s hard to survive. You feel like you can never get ahead. As soon as you get paid, something comes up and you end up back where you were before you got paid.
It’s hard to get ahead. Not only that, you can get fired at any time. Even if you are making six figures, as long as you are working for someone else and relying on one source of income, it’s over. Now, you have to scramble to find another job just to cover your bills.
However, if you have a side business or hustle that earns the same as your expenses you have more leeway if you are fired. Instead of scrambling to find a job, you can focus on your side hustle or at the least have more time to find another job. More than one stream of income gives you options.
Options give you leverage.
Update
I know I’m a week late and I apologize. This week, I have created a new stream of income within Shanklin Technology! Week by week, I’m gaining momentum and building wealth at the same time. I have a couple of goals I want to hit by the end of this year. So, if I execute my plan well, I can achieve them.
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